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BMW to cut about 8,000 jobs
BMW announced that it will lay off approximately 8,000 employees, most of whom are in Germany, as part of a voluntary resignation program extending until the end of 2027. The initiative aims to reduce costs amid declining global demand for cars. This comes amid expectations of a decrease in the company's sales and profits for the current year, with its market value dropping by 36.2% to 36 billion euros since the beginning of the year, due to economic and market challenges. The program primarily targets administrative staff and developers of new products, with an exception for the manufacturing sector. It is part of the company’s efforts to adapt to tough market conditions.
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